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Mumbai’s Property Sales Decline By Over 6% Year-On-Year

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Year-on-year biannual data of property registrations done in Mumbai shows a 6.39% decline. In 2022, between January and June, a total of 66,760 agreements for sale were registered with the Department of Registration and Stamps. On the other hand, during the first six months of 2023, which is up to June 30, 62,492 agreements for sale were registered.

In June 2023, a total of 10,319 property sale agreements were registered, as per data available from the state government. The previous June, 9,919 agreements for sale were registered in Mumbai.

Brokers, and consultants remain upbeat

Despite the decline in property registrations, real estate consultants and brokerage firms continue to be upbeat. They have been terming the recent sale of properties as a “bull run” of sorts and it being at an all-time high. However, a look at the 2023 property registration data shows a contradicting picture.

“Those who are into marketing and sale of properties will always try to portray a rosy picture of the industry, because their agenda is simple – to push more sales for their company to maintain a growth trajectory,” said an industry player in confidence.

“If the market is too buoyant and the demand as projected by the real estate consultancy firms, why for years is there stagnancy in the property prices?” questioned the same individual.

“Price of a product or service is directly dependent on the interaction between demand and supply. With such a heightened demand, the property prices should have increased month-on-month, but that is not the case despite the inflationary pressures that the Reserve Bank of India’s Governor himself has been categorically pointing out, repeatedly.”

Inflation, increase in home loan interest rates have hit market

Overall, in the recent past, the real estate market has witnessed a few headwinds impacting the sale such as inflationary pressure, increase in home loan interest rates, higher stamp duty rate, layoffs, etc.

At every repo rate or interest rate hike announced by the RBI, it is widely known that the real estate industry stalwarts have been presenting itself as upset and coming up with statements that it will impact property sales. Yet, within a few days, they contradict their own statements by mentioning the sales continue to be robust and at an all-time high.

Maharashtra

Mumbai: Dr. Sejal Pawar goes on leave due to controversial statements and comments, KEM Hospital takes strict action even before investigation

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Mumbai: Student Dr. Sejal at a comedy event Sejal has been sent on 15-day leave along with a departmental inquiry and further action will be taken only after its final report. Institutional action in the matter related to Dr. Sejal Pawar.

Seth GS Medical College and KEM Hospital have taken due cognizance of the public concern arising out of the remarks made by MBBS third year student Sejal Pawar during a comedy event and the subsequent circulation of the related video material on social media platforms.

Immediately after receiving the complaints, the institute initiated a preliminary fact-finding process. The concerned student was called, his explanation/apology was taken on record, and the relevant material was reviewed. In view of the preliminary findings, the sensitivity of the matter, and the need to maintain the dignity of deceased persons, body donors and the professional standards expected of medical students, an interim disciplinary/administrative order has been issued against Pawar today.

Accordingly, Pawar has been placed on compulsory leave for a period of 15 days, with effect from May 13, pending detailed inquiry and further orders. At 10:30 am today, he was entrusted with the care and supervision of his parents/guardians during the said period. He has also been directed to cooperate fully with the institutional inquiry and to be available in person or through online mode whenever called by the inquiry committee.

A proposal has also been made to constitute a comprehensive five-member inquiry committee comprising senior faculty, one external/non-faculty member and appropriate institutional representation. The committee is expected to examine the facts, context, implications and relevant records including the aspect of social media circulation and make its reasoned recommendations for further action. The Institute reiterates that respect for patients, deceased, body donors and their families is a core value of medical education. The matter will be dealt with seriousness, sensitivity and due process with fairness. Further action will be taken as per applicable NMC MUHS, BMC and institutional norms after receipt of detailed inquiry report.

No final conclusion should be drawn at this stage, as a comprehensive inquiry is currently underway.

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Maharashtra

Contractors fined for negligence and laxity in Mumbai drain cleaning, Mumbai Municipal Corporation administration takes strict action

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The Mumbai Municipal Corporation has taken a tough stand against the contractors for the shortcomings found through the artificial intelligence system in the drain cleaning work and for delay in the deployment of machinery as per the terms and conditions of the tender. In addition, a fine of Rs. 92,572,830 has been imposed on the concerned contractors. This fine amount is being recovered from the contractor’s bills.

The Sewerage Department has taken this action as per the directions of Municipal Commissioner Ashwini Bhide. Every year, before the onset of rains in Mumbai, the Sewerage Department of the Municipal Corporation removes silt from the sweet rivers and large drains in the Mumbai Metropolitan Region. While the work of removing silt from small drains is done at the ward level. Natural drains, rain drains, underground drains, chambers and bridges are opened and cleaned. Removing garbage from drains helps in faster drainage of rainwater. Keeping in mind the rainfall experience and intensity of rainfall in the Mumbai Metropolitan Region, the target for sludge removal is determined by studying the amount of sludge that needs to be removed from the drains. Like every year, this year too, the work of removing sludge from drains was started in a hurry in the first week of March. Municipal Commissioner Ashwini Bhide has directed the system to effectively monitor these drain cleaning works. To ensure that the sludge removal works are carried out properly and monitored, the municipal administration has developed an artificial intelligence (A.I.) system since last year. Through this system, the work of cleaning drains is being closely monitored. Accordingly, 30 seconds of filming (video) along with photography has been made mandatory for these works. While filming and videoing through CCTV has been made mandatory before and after the removal of sludge from small drains. The municipal administration is analyzing all the videos received regarding the removal of garbage with the help of an artificial intelligence system. This is helping the administration to accurately monitor the garbage removal works in the drains and maintain complete transparency in the works. Implementing the artificial intelligence system, the AI ​​system screens all the uploaded images and videos. It also detects errors in them. Criteria have been set to detect these errors and shortcomings. When the vehicle reaches the weighbridge for weighing, whether the tarpaulin is being removed or not (tarpaulin detection), reuse of the same image or inconsistency in the images (image ghosting), observation of the amount of dust flying from the vehicle during sludge disposal (dust inspection), availability of image (required availability), unavailability of image (manual inspection), non-uploading of videos of sludge unloading operations (unloading video not available) and discrepancies between registered vehicles or work codes and actual work details (vehicle/work code mismatch) have been detected according to these important aspects. In addition, various types of defects have been found in the drain cleaning work such as insufficient availability of necessary plants, machinery and vehicles, shortage of manpower, non-provision of safety equipment to workers performing drain cleaning work, non-processing of collected sludge in the prescribed manner and slowness in working within the prescribed time.

Due to AI-based inspection, verification of digital evidence and physical site inspection, errors in the work were detected in time and financial liability has been fixed on the concerned contractors. The amount of penalty has been fixed according to the error in the work and the penalty amount is being collected from the amount due from the contractors.

Additional Municipal Commissioner (Projects) Abhijeet Bangar said that the municipal administration is very insistent about quality and transparency in the drain cleaning work. Any mistake, whether deliberate or unintentional, in the drain cleaning work is unforgivable. The administration’s zero tolerance policy is maintained in this regard. On the one hand, great efforts have been made to improve the quality of the drain cleaning work and an attempt has been made to maintain the quality of the work done. However, by working through technology, punitive action has been taken by finding the mistakes left by the contractors and the purpose of this action is to send a message that overall negligence in the drain cleaning work will not be tolerated. If any lapse is found in future, the municipal corporation administration will take a strict stand. Abhijeet Bangar said that both AI-based monitoring and on-site inspection systems have effectively exposed the lapses in the work of cleaning drains. In particular, non-site inspection and non-uploading of videos were the main reasons for the punitive action.

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Maharashtra

Mumbai Mayor Ritu Tawde visits small drains in Andheri and Milan subways as well as Gandhi Market and Hindmata

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As part of the review of Mumbai pre-monsoon preparations, Mumbai Mayor Ritu Tawde yesterday (June 12, 2026) inspected the Andheri Metro, Milan Metro, Gandhi Market and Hindmata Small Relief Centres and the site and visited all four locations. MLA Marji Patel, K North and K South Ward Committee President Prakash Masale, F South and F North Ward Committee President Mansi Satmakar, Corporator Mamata Yadav, Corporator Disha Yadav and Deputy Chief Engineer (Rainwater Channels) (Western Suburbs) Assistant Commissioner Ramik Mor were also present on the occasion. Chakrapani Ale, Assistant Commissioner Dinesh Palavad, Assistant Commissioner Arun Kusher Sagar, Assistant Commissioner Vrushali Angule along with other public representatives and concerned officers were present on the visit. During the inspection of Andheri Bhuvari Marg, MLA Marji Patil said that since this area is a very low-lying area, the problem of waterlogging during monsoon is a common occurrence. A permanent solution needs to be found for this. Patel mentioned that this issue has been raised repeatedly in the assembly session as well. The concerned officers said that some measures are under consideration to take permanent measures to deal with the flood situation during monsoon on Andheri Bhuvari Marg. Practicable and feasible measures can be implemented.

Mayor Ritu Tawde said that a joint meeting will be held soon at the mayor’s office to find a permanent solution to the problem of rainwater accumulation on Andheri Bhuvari Marg. The mayor said that additional pumping sets should be installed here during the monsoon season so that rainwater can be pumped faster.

The mayor inspected the small pumping stations and rainwater storage tank projects in Milan Subway, Gandhi Market, and Hindmata and got detailed information. The Mayor directed the concerned authorities to ensure that the system is in good condition throughout the monsoon season.

During this, the Mayor also interacted with the local citizens at these three locations and sought their suggestions and issues.

At the end of the visit, Mayor Ritu Tawde inspected the complete cleaning, repair and painting work of the skate park under the Hindmata Flyover. The Mayor suggested that these works be completed at the earliest and the skate park should be restored and made available for the players as soon as possible.

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